Leviathan Project News

Noble Energy, Inc. (NYSE: NBL) today announced the execution of a non-binding Letter of Intent (LOI) between the Leviathan field partners and BG International Limited (BG) for the supply of natural gas from the Leviathan field, offshore Israel, to BG's existing natural gas liquefaction (LNG) facilities in Egypt.

Woodside and the Leviathan Joint Venture participants, Noble Energy Mediterranean Ltd, Delek Drilling LP, Avner Oil Exploration LP and Ratio Oil Exploration (1992) LP, have agreed to convert a previous inprinciple agreement for the potential acquisition of an interest in the Leviathan field into a non-binding Memorandum of Understanding (MoU).

Woodside has reached an agreement in principle to acquire a participating interest in one of the largest recent gas discoveries worldwide, which could see the company play a key role in the potential development of a liquefied natural gas industry in Israel.

Noble Energy, Inc. (NYSE: NBL) today announced that the partners in the Leviathan Project have agreed in principle on a proposal to sell 30 percent working interest in the offshore Leviathan licenses to Woodside Energy Ltd. (ASX:WPL). All of the Leviathan partners, Noble Energy, Delek Drilling, Avner Oil Exploration and Ratio Oil Exploration, are participating as sellers to Woodside.

Delek Group Ltd. said Thursday that it has made short-term loans to two of its energy subsidiaries so they can continue developing two natural gas fields offshore Israel while appealing a government decision barring them from taking more credit from the lender HSBC.

One of Israel's largest natural gas reserves, the Tamar field, containing up to 9 trillion cubic feet of gas, should be partially exempt from increased taxes on gas and oil, according to the final recommendations of a committee appointed by the Israeli Finance Ministry to re-examine the country's tax law on gas and oil production.

Noble Energy Inc. (NBL) Chief Executive Charles D. Davidson said Friday he will lobby against the possibility of Israel boosting oil and gas royalties and taxes, and ask the Middle East country to live up to the financial arrangements that drew Noble to discover vast reserves of natural gas in the eastern Mediterranean.

Noble Energy Inc. (NBL) executives said Thursday that the oil and gas explorer is moving aggressively to resume deepwater drilling in the Gulf of Mexico, having already asked federal regulators for permission to finish an exploratory well that was halted by the government's five-month ban on such activity.

JERUSALEM- Partners in Israel's offshore Leviathan natural gas field said Sunday that new tests reveal the possibility to find up to 4.2 billion barrels of oil below the underwater gas field in the Mediterranean Sea.

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